At its recent meeting, the Kaskaskia College Board of Trustees took action for payment of main campus renovations.
A resolution was adopted to issue $24.5 million in general obligation debt certificates to continue modernization of several areas on the campus.
Refinancing existing bonds at a lower interest rate and extending the time frame for their repayment will allow the college to use the capital for several deferred maintenance projects including resurfacing parking lots, updating classrooms, and renovating the student services and adult education areas.
The refinancing and extension will not raise property taxes, as the levy collected for the bonds will remain the same.
The college will also use Protection, Health and Safety Funds and Federal Higher Education Emergency Relief money as funding sources for the work.
The trustees also approved KC’s new tax levy and it is lower than last year. This is the fourth year in a row the overall levy has been reduced.
The board abated the levy for bonds used to construct the KC fitness center.
Action was taken to create two new positions. One is an industrial technology instructor at the Greenville Federal Correction Institution.
The other is an Integrated Career and Academic Preparations coordinator.